pages: CityCouncil/2014-03-18.pdf, 9
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CityCouncil | 2014-03-18 | 9 | private ownership; the building is owned by the City and the lease has a potential to run for 21 years; there is a possibility Google will exercise the opportunity to buy out the lease, or a Master Developer could buy the property; taxes are covered under possessory interest tax; the lease has a mechanism to pass taxes to the tenant if a third party investor buys the property; a mechanism is needed to pass the costs to the tenant if a developer does a more advanced development; once the lease was in place, additional costs cannot be added. Vice Mayor Ezzy Ashcraft moved introduction of the ordinance. Councilmember Tam seconded the motion, which carried by unanimous voice vote - 5. (14-096) Introduction of Ordinance Approving the First Amendment to the Lease and Regular Meeting Alameda City Council 8 March 18, 2014 | CityCouncil/2014-03-18.pdf |